Income Reassessment Within Time-Limit Cannot Be Interfered If Income Escapes Assessment: Madras HC Dismisses Petition [Read Order]

Recognizing that the assessment reopened well within the time limit, the Madras HC dismissed the petition
By Kavi Priya - On September 16, 2024 9:32 am - 2 mins read
Income Reassessment - Time-Limit - Income Escapes Assessment - Madras HC Dismisses Petition - TAXSCAN

In a recent ruling, the Madras High Court ruled that reopening assessment under Section 148 of the Income Tax Act, 1961 within the time limit cannot be interfered with if there was an escapement of income. Express Infrastructure Private Limited, the petitionerā€™s assessment was reponed under Section 148 of the Income Tax Act, 1961 by…

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